The ICWA full form is Institute of Cost and Works Accountants of India. It is the full name of the organisation. The ICWAI is also known as the Institute of Cost Accountants of India (ICAI), or ICMAI. The institute, a reputable and expert organisation, also regulates the cost and accounting management industry in India.
ICWAI’s main objective is to control, promote, help, and improve the management accountancy & cost profession in India by providing advice through training and practise through cost and management accounting training.
What is the history of ICWA?
The ICAI was established in 1944 as an incorporated limited company in accordance with the then-applicable rules of the company law of 1913 with the initial goals of advancing, regulating, and enhancing the field of cost accounting.
The Indian Parliament’s two Houses passed the CWA Amendment Act of 2011 into law. A resolution was approved by the Lok Sabha and Rajya Sabha on December 12, 2011, and it was later signed by the Indian President on January 12. On January 13, 2012, the amendments appeared in the Law Gazette of India.
Also Read: CMA Syllabus
Eligibility Criteria to Work for ICWA
- A candidate is eligible to work as a cost accountant after completing the ICWA course.
- A cost accountant is a cost auditor who looks over the cost sheets.
- The candidate can work in both the public and commercial sectors. The sectors include banking, pharmaceuticals, education, insurance, and cost accountants.
- By establishing a joint venture with other cost accountants, a C.A. can also work independently as a cost accountant.
Also Read: ICWA (CMA) Course 2023-24
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